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20121201
20121231
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CNNW 1
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estate website based in seattle. paul from california send an e-mail, "i have enough money in my emergency fund right now to put a down tamt on a house with interest rates where they are does it make any sense to buy or to stay renting" what do you think paul should do? >> he shouldn't deplete his emergency fund. the good news, while home values are increasing in a lot of places, in most places they're only increasing by 2% or 3% over the next year, what economists are predicting. places like phoenix are the outlayer right now. he has time with the low prices. we also expect really low mortgage rates to stick around for at least the next year. so you've got to have an emergency fund, because if somebody loses a job, if something changes in your financial situation, buying a home is a big commitment, and you've got to be able to continue paying that mortgage. so have your emergency fund, but also have your down payment ready, and when you have your emergency fund together, that's the time to make the down payment. don't mix the two. >> listen to this dilemma, also weren't i think
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